An intraday short opportunity for Nasdaq
Nasdaq is showing weakness amid extremely weak market breadth: the entire market was driving higher on almost one stock: NVDA. That's an unhealthy situation, all other sectors except tech sector are stagnating, so we may consider placing a short trade if a small trading range appears on the intraday chart, as displayed.
The recent parabolic move upward is probably the last in a row and market may be ready to a deeper correction.
The false breakout is a preferred strategy in this case.
DYOR and manage your risk at all times!
The recent parabolic move upward is probably the last in a row and market may be ready to a deeper correction.
The false breakout is a preferred strategy in this case.
DYOR and manage your risk at all times!
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